Fortified Cereal Market: Global Industry Analysis and Opportunity and Forecast 2018 to 2023

Market Overview:
The fortification of food began in 1920 where in foods were enriched with micronutrients to compensate for essential vitamins and minerals lacking in people’s diet. According to FAO, the most common fortified foods are cereals and cereal based products. Fortified cereal offers various health benefits as they help in boosting energy, makes bones and teeth healthier, as well as helps in cognitive development. Fortified cereals usually contains nutrients such as riboflavin, niacin, calcium, iron, and multi vitamins among others. Fortified cereal is consumed usually as breakfast products.

The global fortified cereal market is anticipated to be driven by the increasing health consciousness in people in developed economies. Also, the enhancement of livelihood among the consumers in developing economies is also a significant factor for the growth of fortified cereal over the forecast period. Fortified cereal is also getting momentum due to the strong initiative of the World Health Organization (WHO) and FAO for minimizing the chances of malnutrition. Due to the increasing work pressure and working women population, consumers are more inclined to adopt ready to eat food products which in turn escalates the usage of fortified cereal in the food.

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Latest Industry Updates:
Dec 2017 Kellogg’s introduced new Special K Nourish Berries & Peaches with probiotics. Through this product launch, the company aims to benefit from the first mover advantage as it is the only cereal in the market containing live and active probiotic culture.

Mar 2015 Nestle S.A. launched New Fitness Cereal with less sugar across Europe. Through this product launch, the company aims to strengthen its nutritional product portfolio.

May 2014 General Mills launched Cheerios Protein. The product contains 11gm of protein and comes in two flavors; oats &honey and cinnamon almond. Through this product launch, the company aims to capitalize on the growing demand for protein enriched food.

Competitive Analysis:
The major key players are highly focused on R&D activities to launch new products. For instance, Kellogg’s introduced breakfast cereals containing probiotics. The companies are also participating in various social media promotions, events and interaction with the consumers. The manufacturers are demonstrating their new product offerings in various exhibitions to entice new customers. An effective product promotion will help the company in reaching the potential customers. Furthermore, key manufacturers are aggressively promoting the products in emerging market which had supported the company in increasing its consumer base.

The key players profiled in fortified cereal market report are Nestle S.A. (Switzerland), General Mills Inc. (U.S.), Kellogg Company (U.S.), Grape Nuts, Inc.(U.S.), Abbott Nutrition Limited (U.S.), Freedom Foods Group Limited (Australia), and Food For Life Inc. (U.S.) among many others.

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Regional Analysis:
The global fortified cereal market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Europe is estimated to retain its dominance throughout the forecast period of 2017-2022. This is attributed by the growing awareness of the healthy food habits and increasing disposable income of the consumers. Also, various new and innovative cereal products are launched by the key manufacturers in the European countries which is anticipated to intensify the sales of fortified cereal market in the upcoming decade. North America region is estimated to account for a healthy market proportion during the review period of 2017-2023. However, Asia Pacific region is estimated to witness a maximum growth in the global fortified cereal market during the forecast period of 2017-2023.

Segments:
The global fortified cereal market has been divided into type, nutrient, distribution channel, and region.

On The Basis Of Type: Wheat, Rice, Barley, Oats, Corn, and Others

On The Basis Of Nutrient: Minerals, and Vitamins

On The Basis Of Distribution Channel: Store Based, and Non Store Based

On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.

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This release was published on openPR.